Estate planning is the process of anticipating and arranging, during a person’s life, for the management and disposal of one’s estate. This type of planning gives people the opportunity and control to decide how assets are given to the people or organizations you care most about. It is important to pass along values,
Family Heirlooms- A piece of jewelry, glassware, or furniture- the list is endless of one’s belongings and it is important to create a list of valuable items. Allocating those items to family members or close friends is important for estate planning. Knowing where the items will end up after a loved one’s passing provides comfort.
Charity Events or Special Outing- Celebrating the life of a loved one and carrying on their memory after they have passed can be a difficult bridge to cross. Planning yearly gatherings to celebrate their life can help with the grief process and get everyone together to do something the deceased loved. Plan a trip the ballpark, take a picnic to the beach or a family game night can bring everyone to celebrate the life of a loved one.
Club and Organization Donations- Throughout one’s life, clubs and organizations become a hobby and a big part of daily routine. Planning in advance of a loved one’s passing or even your own, and allocating donations or contributions to these organizations can be rewarding. Donating money to the local library because of your love for books, donating time to a local soup kitchen or even participating in charitable walks/runs, these are all great ways to honor the passions of a loved one.
Always remember to pass on your values along with your valuables. When you are estate planning, you should feel free to express your passions, education, religious beliefs and hard work. As these things are important to you while living, it will be very important for your loved ones to carry on those feelings after one’s passing. We encourage you to contact Willwerscheid with any questions regarding estate planning. We can provide the resources and answers you need to as you plan for the future of a loved one or yourself. We look forward to hearing from you.